MBA in Entrepreneurship Admission 2024 – Syllabus and Scope
Some individuals naturally have the spirit of entrepreneurship. From childhood days of running lemonade stands on weekends to the moment they open their own business as adults, they can’t imagine anything but working independently to bring their ideas to life. These dedicated innovators are willing to put in endless effort to ensure the success of their business ventures, even if it means facing the risk of failure.
However, if you find yourself among these innate entrepreneurs, you understand that passion and determination alone aren’t enough to overcome challenges and establish a thriving company. Building a successful business requires solid business skills and a supportive network of investors, mentors, and advisors. Pursuing an MBA in Entrepreneurship can help prepare you for a future where you run your own business. As you move forward in this blog, you can be able to know what exactly is MBA in Entrepreneurship is and how you can gain admission on the same from top universities like MIT ID Innovation. Moving forth, you will also know the MBA in Entrepreneurship scope in India.
What is an MBA in Entrepreneurship?
The MBA in Entrepreneurship is a conventional Master of Business Administration (MBA) program specializing in Entrepreneurship spanning two years. To get this degree, you will complete a comprehensive MBA core curriculum, accompanied by non-core courses focusing on entrepreneurship topics like venture capital and small business management.
This interdisciplinary concentration aims to equip graduates with the skills needed to launch their businesses, covering aspects ranging from drafting practical business plans to overseeing international business operations. Students engage in traditional lectures, case studies, and project-based tasks, ending in the creation of a business model or business plan during their capstone course.
What Will I Learn in an MBA in Entrepreneurship?
At MIT ID Innovation, the syllabus spans two years across four semesters, each designed to progressively enhance students’ entrepreneurial abilities. The initial semester, Formation, marks the inception of aspiring entrepreneurs’ journeys, where they engage in ideation, formulate business models, create minimum viable product prototypes, and conduct opportunity mapping. This immersive process entails not only acquiring theoretical knowledge but also demonstrating its practical application using various advanced software tools. In the subsequent semester, students delve into subjects that prepare them for leadership roles within successful businesses, equipping them with knowledge about legal operations and opportunities for real-world internships.
Moving into the third semester, students explore the fundamentals of business, delving into legal intricacies surrounding intellectual property while engaging with financial principles, marketing strategies, and a global perspective that considers cultural nuances. The final semester focuses on mastering the intricacies of innovation and entrepreneurship, culminating in the crafting of a comprehensive business plan. Throughout the program, students benefit from continuous access to a vast network of entrepreneurs, investors, and forward-thinking companies, facilitated by robust industry partnerships.
In the Capstone Project/Start-up Pitching/Business Plan component, students integrate their learnings, showcasing entrepreneurial skills through a comprehensive business plan or startup pitch. This phase allows students to demonstrate their entrepreneurial acumen, strategic thinking, and innovative solutions aimed at real-world impact.
Some of the MBA in Entrepreneurship subjects include:
- Innovation Fundamentals
- Design Methods & Processes
- Managerial Economics
- Legal Aspects of Business
- Marketing
- Finance/ Fund Raising
- IPR (Intellectual Property Rights)
- Organization Behavior/ Team Building
- Project Management
- Global Business
How to Apply for an MBA in Entrepreneurship?
Many business schools offer MBAs in Entrepreneurship under different degrees or diploma programs. One such is MIT ID Innovation whose flagship program is MBA in Innovation & Entrepreneurship spread over 4 semesters in two years. The application for the academic year 2024-2025 will open soon on the MID ID Innovation’s official website. Each B-school has its requirements to assess and accept a student for admission. The admissions to MIT ID Innovation are fiercely competitive as there are only 60 seats available for the program. However, before applying you must check the eligibility criteria once. This includes having a bachelor’s degree from a recognized institution with an aggregate of 50%.
After this, students can apply to MIT ID Innovation by completing and submitting the MIT ID – DAT APPLICATION form. Alternatively, they can apply through a valid CAT/MAT/XAT/CEED/MIT DAT score and subsequently undergo an interview for admissions. The selection process entails submitting a Statement of Purpose (SOP) and Essay, followed by an interview as part of the admission procedure.
What is the Scope with an MBA in Entrepreneurship?
It’s natural for individuals pursuing an MBA in Entrepreneurship to aspire to launch their own businesses. However, the paths they take to achieve this goal can vary significantly. MBA in Entrepreneurship scope also lies in roles like management, engineering, or product development within an industry before identifying an opportunity. Drawing from their expertise, they conceive a service or product to address market needs or solve problems, aiming to turn their idea into a viable business venture. Others may initially operate a small business on the side, which gradually evolves and demonstrates the potential for becoming a significant entrepreneurial endeavour.
MBA in Entrepreneurship salary ranges between INR 3.5 to 18 LPA. Job opportunities for graduates span diverse sectors, including government roles. Upon completing their degree, MBA in Entrepreneurship salary in India will be from INR 3 to 20 LPA.
Frequently Asked Questions (FAQs)
The MBA in Entrepreneurship is a specialized track within the MBA program, designed for individuals aspiring to become entrepreneurs or manage existing businesses. This curriculum equips students with insights into launching and efficiently managing a business, covering topics such as fundraising and optimal fund utilization.
Enrolling in an MBA program specializing in Entrepreneurship will enable you to enhance your foundational business knowledge and gain versatile skills, ensuring a substantial return on investment regardless of your chosen career trajectory. These valuable attributes render an MBA in Entrepreneurship an immensely worthwhile endeavour!
Having an MBA in entrepreneurship opens doors to various roles across the business landscape. Beyond embarking on your entrepreneurial journey, this qualification can equip you for positions such as project manager, marketing manager, CEO, or chief financial officer.
The MBA program in Innovation and Entrepreneurship spans over two years and provides education in business, research, and technology domains. In the fast-paced and ever-changing landscape of innovation and entrepreneurship, individuals specializing in this field are in high demand for their expertise and capabilities.
Candidates aspiring to pursue an MBA in Entrepreneurship must meet the basic eligibility criteria, which entail having completed their undergraduate degree in a relevant field with an average aggregate score of 50% or higher, or an equivalent CGPA from a recognized university.
Opting for an MBA in Entrepreneurship is an excellent choice if you aspire to launch your own startup or embark on other ventures. This specialization not only equips you with the skills and mindset of an entrepreneur but also equips you to tackle the inevitable challenges of starting a business.
